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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2021
EARNINGS PER SHARE

7.

EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the year.  Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity.  For CoreCivic, diluted earnings per share is computed by dividing net income by the weighted average number of common shares after considering the additional dilution related to restricted stock-based awards, stock options, and Operating Partnership Units.

A reconciliation of the numerator and denominator of the basic earnings per share computation to the numerator and denominator of the diluted earnings per share computation is as follows (in thousands, except per share data):

 

 

 

For the Three Months Ended

September 30,

 

 

For the Nine Months Ended

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

NUMERATOR

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stockholders

 

$

30,012

 

 

$

26,717

 

 

$

(79,933

)

 

$

80,960

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stockholders

 

$

30,012

 

 

$

26,717

 

 

$

(79,933

)

 

$

80,960

 

Net income attributable to non-controlling interest

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,181

 

Diluted net income (loss) attributable to common

    stockholders

 

$

30,012

 

 

$

26,717

 

 

$

(79,933

)

 

$

82,141

 

DENOMINATOR

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

120,285

 

 

 

119,632

 

 

 

120,161

 

 

 

119,533

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

120,285

 

 

 

119,632

 

 

 

120,161

 

 

 

119,533

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock-based awards

 

641

 

 

 

6

 

 

397

 

 

 

25

 

Non-controlling interest – Operating Partnership

     Units

 

 

1,123

 

 

 

1,342

 

 

 

1,269

 

 

 

1,342

 

Weighted average shares and assumed conversions

 

 

122,049

 

 

 

120,980

 

 

 

121,827

 

 

 

120,900

 

BASIC EARNINGS (LOSS) PER SHARE

 

$

0.25

 

 

$

0.22

 

 

$

(0.67

)

 

$

0.68

 

DILUTED EARNINGS (LOSS) PER SHARE

 

$

0.25

 

 

$

0.22

 

 

$

(0.67

)

 

$

0.68

 

 

Approximately 0.3 million and 0.5 million stock options were excluded from the computation of diluted earnings per share for the three months ended September 30, 2021 and 2020, respectively, because they were anti-dilutive. Approximately 0.3 million and 0.5 million stock options were excluded from the computation of diluted earnings per share for the nine months ended September 30, 2021 and 2020, respectively, because they were anti-dilutive.